Home India Ministry of Commerce and Industry WHEREAS M s Yash Technologies Pvt Ltd has proposed under sec...
Date: 2019-08-08 Category: Extra Ordinary State: Union Government Country: India

WHEREAS M s Yash Technologies Pvt Ltd has proposed under section 3 of the Special Economic Zones Act

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification announces the establishment of a Sector Specific Special Economic Zone for Information Technology and Information Technology Enabled Services (IT/ITES) by Ms. Yash Technologies Pvt. Ltd. in Indore, Madhya Pradesh. It designates the area as a Special Economic Zone and constitutes an Approval Committee. The effective date for considering the zone as an Inland Container Depot is August 5, 2019. Key Points / Main Content: * **Establishment of Special Economic Zone:** * Ms. Yash Technologies Pvt. Ltd. is authorized to set up a Special Economic Zone for IT/ITES at Plot No. 1, Scheme No. 166, Indore, Madhya Pradesh. * An area of 2.746 hectares is notified as a Special Economic Zone. * **Approval Committee Constitution:** * A committee called the "Approval Committee" is constituted for the Special Economic Zone. * The committee will consist of a Chairperson (Development Commissioner of the Special Economic Zone) and several members, including representatives from various government departments (Commerce, Foreign Trade, Customs, Income Tax, Finance), State Government, and the Zone's Developer. * **Inland Container Depot Designation:** * The Special Economic Zone will be considered an Inland Container Depot under Section 7 of the Customs Act, 1962, effective August 5, 2019. Impact Analysis: Central Government: * Impact: Exercises powers under the Special Economic Zones Act, 2005, and Customs Act, 1962 to establish the zone, form the committee, and designate the area as an Inland Container Depot. * Action Required: To oversee the development, operation, and maintenance of the Special Economic Zone, and ensure compliance with relevant regulations. State Government of Madhya Pradesh: * Impact: Has officers, not below the rank of Joint Secretary, nominated to the Approval Committee. * Action Required: Nominate two officers to the Approval Committee. Ms. Yash Technologies Pvt. Ltd. (Developer): * Impact: Authorized to set up a Sector Specific Special Economic Zone for IT/ITES. * Action Required: Development, operation, and maintenance of the Special Economic Zone according to the Special Economic Zones Act, 2005. Appoint a representative to the Approval Committee. Approval Committee: * Impact: Responsible for the purposes of section 14 of the Special Economic Zones Act, 2005. * Action Required: Oversee and approve activities within the Special Economic Zone per Section 14 of the Special Economic Zones Act, 2005. Government Departments (Commerce, Foreign Trade, Customs, Income Tax, Finance): * Impact: Required to provide representatives to the Approval Committee. * Action Required: Nominate representatives to the Approval Committee.

Key Entities Referenced

Special Economic Zones Act, 2005: An act of the Indian Parliament to provide for the establishment, development and management of Special Economic Zones for the promotion of exports and for matters connected therewith or incidental thereto. Madhya Pradesh: A state in central India, where the proposed Special Economic Zone is to be located. Indore, Madhya Pradesh: A district in Madhya Pradesh, India, where the proposed Special Economic Zone is to be located. Yash Technologies Pvt. Ltd.: The company that proposed to set up the Sector Specific Special Economic Zone. Information Technology and Information Technology Enabled Services: The sector for which the Special Economic Zone is being established (IT/ITES). Customs Act, 1962: An act to consolidate and amend the law relating to customs. Approval Committee: A committee constituted for the Special Economic Zone for the purposes of section 14 of the Special Economic Zones Act, 2005. Ministry of Commerce and Industry: The Indian government ministry responsible for international trade and industry.
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Tkkus d s fodkldrk Z dk ifzrfuf/k fo'k’sk, vkea f=rh vkSj ;r%] fo”k’sk vkfFkdZ tkus vf/kfu;e] 2005 ¼2005 dk 28½ dh /kkjk 53 dh mi-/kkjk (2) n~okjk inz Ùk 'kfDr;ks a dk i;z ksx djr s g,q , dUs n z ljdkj ,rn}~ kjk fnukda 5 vxLr] 2019 dk s ml rkjh[k d s :Ik e sa fu/kkfZjr djrh gS ftl rkjh[k ls mi;qZDr fo”k’sk vkfFkdZ tkus dk s lhek-”kqYd vf/kfu;e 1962 ¼1962 dk 52½ dh /kkjk 7 d s varxZr varns”Z kh; dVa us j fMik s ekuk tk,xkA [Qk- l-a ,Q- 1/2/2019&,lbtZ Ms ] ch- ch- Lous ] vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) NOTIFICATION New Delhi, the 5th August, 2019 S.O. 2873(E).—WHEREAS, M/s. Yash Technologies Pvt. Ltd. has proposed under section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act), to set up a Sector Specific Special Economic Zone for Information Technology and Information Technology Enabled Services (IT/ITES) at Plot No. 1, Scheme No. 166, Dist. Indore in the State of Madhya Pradesh; AND, WHEREAS, the Central Government is satisfied that requirements under sub-section (8) of section 3 of the said Act, and other related requirements are fulfilled and it has granted letter of approval under sub-section (10) of section 3 of the said Act for development, operation and maintenance of the above sector specific Special Economic Zone on 4th July, 2019; NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1) of section 4 of the Special Economic Zones Act, 2005 and in pursuance of rule 8 of the Special Economic Zones Rules, 2006, hereby notifies the 2.746 hectares area at above location with survey numbers given in the table below as a Special Economic Zone, namely: Table Sl. No. City/District Scheme No. Plot No. Area (in hectares) 1. Indore, Madhya Pradesh 166 1(Part) 2.746 Total 2.746 AND, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1) of section 13 of the Special Economic Zones Act, 2005 (28 of 2005), hereby constitutes a Committee to be called the Approval Committee for the above Special Economic Zone for the purposes of section 14 of the said Act consisting of the following Chairperson and Members, namely:- 1. Development Commissioner of the Special Economic Zone Chairperson ex officio; 2. Director or Deputy Secretary to the Government of India, Ministry of Member ex officio; Commerce and Industry, Department of Commerce or his nominee not below the rank of Under Secretary to the Government of India 3. Zonal Joint Director General of Foreign Trade having territorial jurisdiction over Member ex officio; the Special Economic Zone¹Hkkx IIµ[k.M 3(ii)] Hkkjr dk jkti=k % vlk/kj.k 3 4. Commissioner of Customs or Central Excise having territorial jurisdiction over Member ex officio; the Special Economic Zone or his nominee not below the rank of Joint Commissioner 5. Commissioner of Income Tax having territorial jurisdiction over the Special Member ex officio; Economic Zone or his nominee not below the rank of Joint Commissioner 6. Director (Banking) in the Ministry of Finance, Banking Division, Government Member ex officio; of India 7. Two officers, not below the rank of Joint Secretary, to be nominated by the State Member ex officio; Government 8. Representative of the Developer of the zone Special invitee AND, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (2) of section 53 of the Special Economic Zones Act, 2005 (28 of 2005), hereby appoints the 05 day of August, 2019 as the date from which the above Special Economic Zone shall be deemed to be Inland Container Depot under section 7 of the Customs Act, 1962 (52 of 1962). [F. No. F.1/2/2019-SEZ] B.B. SWAIN, Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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